EHang (NASDAQ:EH) Stock Price Up 4.2% – Here’s What Happened

Shares of EHang Holdings Limited (NASDAQ:EH) rose 4.2% during mid-day trading on Wednesday . The stock traded as high as $17.63 and last traded at $17.35. Approximately 252,451 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 1,294,695 shares. The stock had previously closed at $16.65.

Wall Street Analysts Forecast Growth

Several analysts have commented on EH shares. China Renaissance started coverage on EHang in a research note on Tuesday, September 24th. They set a “buy” rating for the company. UBS Group started coverage on EHang in a research note on Wednesday, August 28th. They set a “buy” rating and a $22.00 price target for the company.

EHang Trading Down 2.4 %

The company has a debt-to-equity ratio of 0.02, a current ratio of 2.12 and a quick ratio of 1.99. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of -26.35 and a beta of 1.01. The business’s 50 day moving average price is $14.25 and its 200-day moving average price is $15.04.

EHang (NASDAQ:EH) last issued its earnings results on Thursday, August 22nd. The company reported ($0.14) earnings per share (EPS) for the quarter. EHang had a negative return on equity of 84.09% and a negative net margin of 110.21%. The business had revenue of $14.04 million for the quarter. During the same period last year, the business posted ($0.18) earnings per share. Equities analysts forecast that EHang Holdings Limited will post -0.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in EH. Hennion & Walsh Asset Management Inc. grew its holdings in EHang by 79.7% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 33,166 shares of the company’s stock valued at $682,000 after purchasing an additional 14,705 shares during the last quarter. SteelPeak Wealth LLC increased its holdings in EHang by 288.4% during the 1st quarter. SteelPeak Wealth LLC now owns 41,455 shares of the company’s stock valued at $853,000 after acquiring an additional 30,782 shares in the last quarter. GSA Capital Partners LLP raised its position in EHang by 34.3% during the first quarter. GSA Capital Partners LLP now owns 48,370 shares of the company’s stock worth $995,000 after acquiring an additional 12,355 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of EHang in the first quarter valued at about $228,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of EHang in the first quarter valued at approximately $484,000. 94.03% of the stock is currently owned by institutional investors and hedge funds.

EHang Company Profile

EHang Holdings Limited operates as an autonomous aerial vehicle (AAV) technology platform company in the People's Republic of China, East Asia, West Asia, Europe, and internationally. It designs, develops, manufactures, sells, and operates AAVs, as well as their supporting systems and infrastructure for various industries and applications, including passenger transportation, logistics, smart city management, and aerial media solutions.